You are on your way to joining a global network of entrepreneurs behind any business and private enterprise you can imagine, whether you plan to create a modest grocery store or launch your own digital firm.
Todd Collins a Business owner from Charlotte, NC has this advice: “If done successfully, your business will grow well beyond your personal capabilities. Don’t be afraid to think big.”
Entrepreneurial examples can be found all over the place. However, for every successful entrepreneur, there are many more that fail. According to a 2020 Investopedia article, 20% of businesses will fail during the first two years, and 45% will fail within the first five years. According to a Fortune Magazine story from 2014, nine out of ten startups fail at some point. Those figures may seem scary, but they should not rule out entrepreneurship as a career option.
What is an entrepreneur? What does it take to become one? Important questions. You should also understand what education, from previous work experience to college degrees, will help, as well as the pitfalls to avoid in building your own business.
While profit isn’t the primary motive for entrepreneurs, risk-taking, usually in the form of financial investments, is the common thread that runs through all of them. Entrepreneurs are likewise attempting to create a long-lasting product.
Charlotte, NC entrepreneur Todd Collins suggests: “Working and building a business is hard work and takes time. Before you embark on the challenge, make sure you are fully prepared.”
Charlotte, NC businessman Todd Collins invests in local minority-owned companies, helping build strong foundations for businesses in the real estate and technology industries. He is a champion for minority owned businesses.